Presented below is selected financial information for Stanley's Bike Shop.Using the appropriate information,prepare the income statement for 2014.
$$\begin{array} { | l | r | }
\hline \text { Total assets at December } 31,2014 & \$ 91,000 \
\hline 2014 \text { expenses } & 38,000 \
\hline \text { Total equity at December } 31,2013 & 48,000 \
\hline \text { Total liabilities at December } 31,2013 & 35,000 \
\hline \text { 2014 Revenues } & 46,000 \
\hline
\end{array}$$

Question

Presented below is selected financial information for Stanley's Bike Shop.Using the appropriate information,prepare the income statement for 2014.
 $$\begin{array} { | l | r | } 
\hline \text { Total assets at December } 31,2014 & \$ 91,000 \
\hline 2014 \text { expenses } & 38,000 \
\hline \text { Total equity at December } 31,2013 & 48,000 \
\hline \text { Total liabilities at December } 31,2013 & 35,000 \
\hline \text { 2014 Revenues } & 46,000 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Presented below is selected financial information for Stanley's Bike Shop.Using the appropriate information,prepare the income statement for 2014.
 $$\begin{array} { | l | r | } 
\hline \text { Total assets at December } 31,2014 & \$ 91,000 \
\hline 2014 \text { expenses } & 38,000 \
\hline \text { Total equity at December } 31,2013 & 48,000 \
\hline \text { Total liabilities at December } 31,2013 & 35,000 \
\hline \text { 2014 Revenues } & 46,000 \
\hline
\end{array}$$

Presented Below Is Selected Financial Information for Stanley's Bike Shop